Uman National University | today: 06/19/2025
| Author(s) | Пономаренко О. В., , , | ||
|---|---|---|---|
| Category | Economics | ||
| year | 2025 | issue | Випуск 106 Частина 2 |
| pages | 315-327 | index UDK | 342.9 | DOI | 10.32782/2415-8240-2025-106-2-315-327 (Link) |
| Abstract | The Ukrainian insurance market is currently undergoing significant stress due to the full-scale war, economic instability, heightened risks of asset and business loss, demographic decline, and growing uncertainty among both citizens and entrepreneurs. These conditions highlight the need for a resilient, efficient, and flexible insurance system capable of supporting economic stability and recovery. Global experience suggests that the integration of innovative technologies—such as digital platforms, artificial intelligence, blockchain, and InsurTech—can significantly enhance the sustainability of insurance markets, even in crisis conditions. The article investigates South Korea’s experience in transforming its insurance sector and explores how its best practices can be adapted to the Ukrainian context. South Korea’s insurance market is among the world’s most developed, characterized by a high penetration rate, strong regulatory oversight, technological advancement, and consumer trust. The study analyzes the structural features of the Korean insurance system, the role of government in shaping market resilience, and the use of technological tools to respond to economic and demographic challenges. A comparative analysis between the Korean and Ukrainian insurance markets is conducted to identify actionable strategies for strengthening Ukraine’s sector. Special attention is given to regulatory innovation, consumer behavior, and digital transformation as drivers of modernization. The findings emphasize the relevance of Korean experience for Ukraine and offer a set of recommendations aimed at enhancing the efficiency, accessibility, and trustworthiness of domestic insurance services. These insights can contribute to the development of a more stable and adaptive insurance system in Ukraine, supporting both crisis response and long-term recovery | ||
| Key words | insurance, insurance market, South Korea, Ukraine, InsurTech, digital transformation, regulatory policy, financial stability, demographic challenges, insurance culture | ||